The Minister set out what Wales can offer the business community in terms of green growth.

This includes:
Wales’ wealth of natural resources
Its flexible and committed Government
Its practical and customised programme of business support.

The prospectus, Green Growth Wales: Investing in the Future sets out that Wales boasts 1,200km of coast line, around 32,000 km2 of sea, seven major ports and significant potential for low carbon energy generation from marine energy, hydro, solar, onshore and off shore wind.

Its devolved status also enables the Welsh Government to act fast, with minimum bureaucracy and maximum flexibility, and has allowed it to develop a comprehensive programme of business support including greater access to Government business finance than any other part of the UK.

Alun Davies said:

“Wales is already a great place to do business but I want it to be a world leader in green growth. I believe that by using our natural resources sustainably we can create a new economic model that will deliver wealth creation and economic growth, both now and in the future.

“The Welsh Government is committed to creating an environment where businesses can invest with confidence, and to developing the conditions that will nurture and drive green growth.

“Urgent and growing economic challenges such as resource constraints and climate change all point to the fact that business as usual is not an option.

“Green growth will create an environment that delivers opportunities, jobs and international competitiveness and I am determined that Wales is right at the centre of this, working closely with business to deliver the best long terms outcomes for them and for Wales.”

The Minster was speaking at a Mansion House event, hosted by the Lord Mayor of London on behalf of Natural Resources Wales, the body responsible for the sustainable management of Wales’ natural resources.

Peter Matthews, Natural Resources Wales Chair said:

“Green growth is a priority for us in Natural Resources Wales, and I believe it is key to Wales’ future prosperity. The natural environment is already worth more than £8 billion to the Welsh economy but there is potential for more.

“Natural Resources Wales is a unique organisation in the UK and Europe, providing businesses and investors with a “one stop shop” where they can get advice and help to find solutions to potential issues so that the natural resources of Wales can be sustainably used, maintained and enhanced now and in the future.

“Our aspiration is for Wales to become a ‘location of choice’ for enterprise and business, where best environmental practice is the norm. We want to help developers manage project risks and ensure that we have the right developments in the right place.”

The green economy is an established and growng sector within Wales, contributing £5.5 billion to the wider Welsh economy in 2011/12. With the global market for the green economy valued at £3.4 trillion, the Welsh Government is determined to capitalise on the significant opportunities and build on its current success.

The Minister for Natural Resources invited businesses to engage with the Welsh Government to discuss future investment opportunities and the ways in which the Welsh Government could provide support.